For Republican candidates, poor are not so blessed

Tuesday, September 13, 2011

I’m not sure what the latest batch of Republicans presidential candidates have against the poor. Other than the fact that they don’t vote Republican, if they vote at all. The closest Republican presidential candidates have come to supporting a tax increase is not for the rich or anyone who might be able to afford it but for the poor, (See the The Daily Show for a synopsis of some of their positions).

Candidates and their supporters complain that a large portion of the (lower income) population doesn’t pay federal income tax. That might change if they were paid a decent wage, but that’s beside the point (I think), and ignores the fact that many of the wealthiest in the country pay some of the lowest tax rates, and only if they haven’t managed to dodge taxes altogether.

And it doesn’t mean the poor don’t pay plenty of taxes. A recent Washington Post study found that poorest among us pay roughly 16 percent in taxes (social security, medicare, state, sales etc.); the richest pay about 30 percent. If you’re pulling in $30,000/y 16 percent amounts to around $5000 which leaves around $25,000/y to live on. A household bringing in $1,000,000/y pays around $300,000/y leaving $700,000 to live on. The last time I checked we’re all flesh and blood and that seems like plenty even for for the most discriminating among us. A 5% percent tax increase would drop the bring home to $650,000. I’m still not seeing the pain. On the other hand, I’m betting the family of 4 with $25K to get by on is watching every penny, literally.